What is brand development and why is it so important
Brand identity construction is very important for companies especially for those that are at the beginning of their experience on a market. For example, a start-up may invest time and resources on brand development in order to be known and recognized by users and consumers for specific values and characteristics. On the other hand, a large company with a consolidated brand positioning needs to work everyday on its strengthening, in order to benefit from it and to generate revenue opportunities.
So, let’s see what brand development is and why is it so important for the growth of a business.
What is brand development
Brand development activities are a series of processes that help a brand to grow within a market or to reinforce its positioning in it. This is the reason why the actions made during the start-up phase will be different from those carried out over the years to come. However, all of them have the same goal: to help the brand to increase its popularity and to improve its market positioning.
The main phases of brand development
Brand development process consists of different phases with different purposes.
First of all there is the strategic phase. You will develop the strategy supported by an expert. The strategy must be well structured with a detailed description of actions, objectives and timelines, and it also must correspond with the main goals written in the business plan.
The second phase is the pragmatic one. You will define your company image by choosing its graphic look. In this phase will be created the logo and all the other elements for the online and offline communication.
Then there is the operational phase during which will be carried out the planned actions. For example, if you are a fashion start-up company it will be very important for your business to take part in fashion shows, parties and events. Goals and methods of the participation will be different according to the brand positioning and its history but they will be still useful to reach the next phase.
This is the strengthening one. Think always about our example: after a few years your fashion company will be not a start-up anymore. It will have gained a good positioning in the market. So, when you will take part in an event or a show, your goal will be no longer to make your brand known but to strengthen its positioning in the market through the right relationships.
Why is brand development important for your business
Let’s recap: brand development activities help to construct and reinforce brand identity. They are fundamental for business development in order to always create new sales opportunities.
On one hand, they help the brand to tell and communicate its identity, made up of unique features and values, in order to be easily recognized by users; on the other hand they allow to strengthen these values and to reinforce the market positioning in terms of reputation and, of course, of economic one.
So, it is easy to understand why brand development is so important for the origin and the development of a business. It does not matter what the sector of the company is or what its dimensions are: relying on an expert in brand management will be necessary to obtain an adequate market positioning and the returns foreseen in the business plan.